Brexit and Fishing Rights

 Excerpt:

"As it stands, Britain will leave Europe’s trade and customs area on Dec. 31, with no prospect of an extension.

A no-deal scenario is widely expected to cause economic chaos, with customs checks required at borders

Concern is particularly acute on the border between EU member Ireland and the British province of Northern Ireland, where the sudden imposition of a hard border threatens the delicate peace secured by 1999’s Good Friday Agreement.

The talks have already dragged on much longer than expected and time is running out for ratification of any deal by the European Parliament by the end of the year."

https://www.arabnews.com/node/1770306/business-economy

https://www.aljazeera.com/economy/2020/11/30/brexit-deal-in-sight-uk-urges-eu-to-move-on-fishing-rights

image: alJazeera/Bloomberg

Saudi & UAE on Joint Digital Currency Plan

 Excerpt:

"In a joint statement the Central Bank of the United Arab Emirates (CBUAE) and the Saudi Central Bank (SAMA) launched the ‘Aber’ project, which seeks to evaluate the feasibility of issuing a digital currency for use between the two central banks."

https://www.arabnews.com/node/1770131/business-economy

Pic: Reuters

Interpreting Logistic Regression

To refresh our understanding.

https://stats.idre.ucla.edu/other/mult-pkg/faq/general/faq-how-do-i-interpret-odds-ratios-in-logistic-regression/

What Do You Think of CBDC?

A discussion in ResearchGate.

https://www.researchgate.net/post/What-do-you-think-about-introducing-Central-bank-digital-currencies-CBDC

Pricing Mechanism of Sukuk

Good introductory article on Sukuk below.

https://ideas.repec.org/a/bor/bistre/v19y2019is1p21-33.html

Another article - Excerpt by Fitch Rating:

"The discontinuance of LIBOR could adversely affect the value of floating-rate sukuk referencing LIBOR or any other such benchmark. Sukuk also face the complexity of ensuring sharia compliance throughout the transition process. However, the bulk of the sukuk market is fixed-rate and so unaffected by the IBOR transition."

https://www.fitchratings.com/research/islamic-finance/2020-sukuk-volumes-resilient-to-coronavirus-stress-21-10-2020

Move over V, U, W and L

 I borrow the first sentence of the article below on K-shaped economic recovery. Happy reading.

https://www6.royalbank.com/en/di/hubs/now-and-noteworthy/article/what-is-a-k-shaped-recovery/kedfim3z

Image from the Article

Case Studies in Islamic Banking and Finance

 A Series of Cases written by Brian Kettel. There are a few on Sukuk.

https://nurulichsanaan.files.wordpress.com/2015/10/introduction-to-islamic-banking-and-finance-case-studies-case-questions-answers-brian-kettell-2011.pdf

Source: Internet

State of the Global Islamic Economy Report 2019/2020

 You can read the Report here. The 2020/2021 Report is also available.

https://www.salaamgateway.com/specialcoverage/SGIE19-20

Excerpt from 2020/2021 Report:

"In a year that will go down in history, the COVID-19 pandemic set off an unprecedented chain reaction of global economic disruption. Businesses, investors, and governments across the global and Islamic economy found themselves embroiled in a financial crisis. Some used this disruption to pivot, while some businesses flourished. This eighth edition of the State of the Global Islamic Economy Report covers developments over this landmark year — pre- and post-COVID-19. 

This year’s report estimates that Muslims spent $2.02 trillion in 2019 across the food, pharmaceutical, cosmetics, fashion, travel and media/recreation sectors, all of which are impacted by Islamic faith-inspired ethical consumption needs. This spending reflects a 3.2% year-on-year growth from 2018. In addition, Islamic finance assets were estimated to have reached $2.88 trillion in 2019. The pandemic is forecasted to result in an 8% decrease in global Muslim spending in 2020 for the Islamic economy sectors covered in this report. All of these sectors, except travel, are expected to return to pre-pandemic spend levels by the end of 2021. Muslim spend is forecasted to reach $2.4 trillion by 2024 at a 5-year Cumulative Annual Growth Rate (CAGR) of 3.1%."

Zillenials and C-Generation (Covid Generation)

You will love this article, especially if you run you own business. Farsighted review.

Excerpt:
"Investment implications could include, according to BofA:
Consumer-driven sustainable activism could lead to risks for “harmful” sectors like fast fashion

Increasing focus on Asia-Pacific, which accounts for 37% of Gen Z income; that’s set to rise to 41% by 2040

Voice technology could allow better access to e-commerce to individuals with limited literacy skills as voice assistants are launched in more languages

The airline and travel industry could be affected by sustainability concerns as “flight shaming” becomes more prevalent

Alcohol and tobacco companies will need to increasingly focus on products seen as healthier -- such as beverages with lower sugar and alcohol contents, or heating rather than burning tobacco.

And in case this isn’t forward-thinking enough for you, BofA notes that the next to come along is Gen C: The Covid generation.

“It is the generation that will have only ever known problem solving through fiscal stimulus and free government money potentially paving the way for universal basic income and health-care access,” the strategists said. “Gen C will be unable to live without tech in every aspect of their lives” and “their avatars will protest virtually in the online Total Reality world with their friends on the latest cultural movement.”

https://www.salaamgateway.com/story/zillennials-are-going-to-change-investing-forever-bofa-says

Image from Internet

InkleWriter - Online Interactive Story

Interesting sharing by Prof. Karim and Dr. Nurliyana on Inklewriter. Try it. Loads of fun.

Below is how Google describes it:

"inklewriter is a free tool designed to allow anyone to write and publish interactive stories. It's perfect for writers who want to try out interactivity, but also for teachers and students looking to mix computer skills and creative writing."

My first Online Interactive Story here: https://www.inklewriter.com/stories/33392

https://www.youtube.com/watch?v=cZ4AO-6zeyg

Covid-19 Up-Ending Capitalism

Here is one good article summarising the winners and losers of the war against Covid-19. Similar article appears earlier in May 2020. Many big companies are helping out, for example producing hand sanitizers and distributing them for free.  The society's moral compass is at work. 

Excerpt:

"According to a study by public relations and management consultancy agency Edelman, 64 per cent of consumers choose, switch, avoid or boycott a brand based on its stand on societal issues."

Read more at https://www.todayonline.com/commentary/covid-19-upending-capitalism-we-know-it-can-businesses-rewrite-their-rule-books

https://www.economist.com/the-world-ahead/2020/11/17/covid-19-is-up-ending-capitalism

3D Printing the New Normal in Manufacturing

A friend alerted me to the economics of 3D printing. 

https://www.bernama.com/en/thoughts/news.php?id=1850376

The Three Gates of Speech - Rumi

 

Lending Lifeline

Recent article in the IMF Blog (16 Nov.) addressing urgent financing needs during the pandemic. One word we keep hearing. UNPRECEDENTED.

https://blogs.imf.org/2020/11/16/imf-lending-lifeline-addressing-urgent-financing-needs-brought-on-by-the-pandemic/

Kudos to the Illustrator.

Another Look at CBDC (Central Bank Digital Currency)

The article is written on Nov. 15, 2020. Quite Cryptocurrency-centric. The audio is also available (5.09 minutes). 

https://cointelegraph.com/news/central-bank-digital-currencies-are-dead-in-the-water

The Best Economics Book of 2019

Diane Coyle, a Professor at the University of Cambridge and Co-Director of the Bennett Institute for Public Policy, listed Top Five Economics Books of 2019. Please read her review.

The first one is the "The Technology Trap: Capital, Labor and Power in the Age of Automation" by Carl Benedikt Frey.

https://fivebooks.com/best-books/economics-2019-diane-coyle/

The Covid-19 Recession of 2020 by Prof. Mankiw

Writing by Prof. Mankiw highlighting the supply and demand side of the twin crises, forthcoming in Macroeconomics, 11e. You can visit his blog.

https://scholar.harvard.edu/files/mankiw/files/covid-19_recession_of_2020_aug2020.pdf

Ant's, IPO and Digital Yuan

An Interesting article for the weekend reading. I have posted a link a=on Ant Financial before this.

https://www.coindesk.com/how-ants-suspended-ipo-is-related-to-chinas-digital-yuan

The Impact of COVID-19 on Inflation

An article in IMF Blog.

Excerpt:

"The chart of the week looks at the difference over the February–May timeframe between a COVID-19 price index that adjusts the CPI weights based on the impacts of COVID-19 on spending in Canada and an index with unchanged CPI weights. The diamonds in the chart show the difference between the two indexes by region. In seven of the eight regions shown, the CPI is below the COVID-19 index. Looking at the average for all regions combined, the gap is 0.23 percentage points."

https://blogs.imf.org/2020/11/10/data-disruption-the-impact-of-covid-19-on-inflation-measurement/

What Your Voice is Saying About You

Remember the round voice of James Earl Jones?  Let's do a vocal audit. 

https://www.fastcompany.com/40417930/four-ways-to-tell-what-your-voice-is-saying-about-you

The English Wars - New Yorker

Typology of Gig Workers

Classification of Gig Workers.

https://www.centre.my/post/which-type-of-gig-worker-are-you

The Money Flower - Digital Currency

I found an interesting article on digital currency, written in 2018. I just posted it here. I did not write the article, just sharing because I think it is worth reading. 

https://mostlyeconomics.wordpress.com/2018/03/08/the-case-for-central-bank-electronic-money-and-the-non-case-for-central-bank-cryptocurrencies/

The Money Flower - BIS.

Biden and the World

As seen by the CNN's article. Excerpt below:

"Foreign policy success won't just be about winning the trust of friends and acquiescence of enemies again; it will be about building international confidence in America's unity of purpose, a tall order for such a divided nation. Biden may well find that the world order can no longer be reset the way he wants."

https://edition.cnn.com/2020/11/08/politics/us-election-biden-wins-world-analysis-intl/index.html

Biden and US Foreign Policy

President Joe Biden and what does it means to US? Below is several experts opinions on Biden's foreign policy. Running mate Senator Kamala Harris. K-Shaped economy. 

https://www.atlanticcouncil.org/blogs/new-atlanticist/joe-biden-just-won-the-presidency-what-does-that-mean-for-americas-role-in-the-world/

Analysis on Malaysia's Budget 2021

The Budget was tabled on 6 Nov. 2020 by the Finance Minister. The largest expenditure in history.

https://www.malaysiaworldnews.com/2020/11/06/rm322-5-billion-for-budget-2021-the-largest-expenditure-in-malaysias-history/

Below is the link to the past 10 years comparison. Debt:GDP ratio is 60.7% in 2020. Fiscal deficit is 6% in 2020 and Government plan to reduce it to 5.4% in 2021. Let's hope the economy will be recovering soon, the debt will be smaller and deficit is reduced to 5%. 

https://newslab.malaysiakini.com/budget2021/en/infographic

Chinese Yuan and Reserve Currency Status

Will Yuan replace USD in international trade? Some says yes, some says no. Time will tell.

https://www.cnbc.com/2020/11/03/the-chinese-yuan-is-a-long-way-from-achieving-reserve-currency-status-strategist.html

Excerpt from Another Source:

“Dethroning the dollar — which the euro tried to do, and settled at a miserable 18–20% of all the international things that go on — is very, very difficult. [...] There is a certain amount of illusion at the moment that the yuan — which accounts for 2% of international trade settlements and even less if you come to financial investment flows — that this can take over.”

Malaysia Budget 2021 from Deloitte Malaysia

You can download the one-page Q&A pre-budget expectations from Deloitte Malaysia here. Mostly about tax-relief. And yes, they are expecting GST comeback. 

Let's wait for Budget Announcement on Nov. 6, 2020 at 4 pm. 

https://www2.deloitte.com/my/en/pages/tax/articles/malaysia-pre-budget-2021-qa.html

California Prop. 22, the younger brother of AB 5

The majority of gig workers in the United States are voting against Prop 22 per the Election 2020, claiming the 'future of labor' at stake. You can watch the short video below and read the story at the given link.

https://techcrunch.com/2020/10/16/human-capital-prop-22-puts-the-future-of-labor-at-stake/

Harapan Belanjawan 2021

A short article on SMEs, especially OYO and the downstream industries (in Malay). Good suggestions, especially the "Laluan Hijau." However, it would be better if the author include where the sources of money should come from.

https://www.bernama.com/bm/tintaminda/news.php?id=1893303

IIFM Sukuk Report

The 3rd Edition of IIFM Global Sukuk Report for Safekeeping. Early market trend analysis in this Report.
The latest version is available.

https://www.iifm.net/wp-content/uploads/2019/08/IIFM-Sukuk-Report-3rd-Edition-A-Comprehensive-study-of-the-Global-Sukuk-Market_1.pdf